OpenAI is significantly increasing its secondary share sale by over $4 billion, allowing eligible current and former employees to sell approximately $10.3 billion in stock, up from an initial target of $6 billion. This offering will take place at a valuation of $500 billion, consistent with market expectations. This move follows a previous fundraising round that valued OpenAI at $300 billion. Employees who have held shares for more than two years must decide by the end of September if they wish to participate, with the transaction expected to conclude in October. Key investors in this venture include SoftBank, Dragoneer Investment Group, Thrive Capital, and T. Rowe Price. OpenAI’s initiative mirrors similar strategies by high-value tech companies like SpaceX and Stripe, providing employees with opportunities to monetize equity, easing pressure related to going public. In November, OpenAI previously enabled a $1.5 billion share sale through a tender offer with SoftBank.
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